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PNC Bank, Which Funds Payday Lenders, Wants to Buy Money-Laundering Riggs Bank
08/25/2004
Pittsburgh-based PNC Bank, which supports high-cost predatory payday lenders, now wants to buy Riggs Bank, which is embroiled in a money laundering scandal involving, among others, Pinochet of Chile, the oil dictator of Equatorial Guinea, and the Saudi Arabian embassy. Inner City Press / Fair Finance Watch has filed opposition to PNC's application for regulatory approval, covered (begrudgingly) in the Pittsburgh Post-Gazette and in greater depth on Inner City Press' Finanace Watch.

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